OPEC summit: Nigeria Obasanjo:talks on stability of oil markets
Olusegun Obasanjo President of Nigeria said Tuesday that in the meetings planned this week in OPEC Summit that we will talk on "how will we assure the stability of the price of oil."
OPEC heads of state are meeting the second time in the 40 years of the organization in Caracas to reinforce the organization role and commemorate the group's 40th anniversary.
The II OPEC Summit begun with a meeting of oil, finance and foreign ministers today and will continue with a press conference Tuesday evening.
On Friday the United States decided it would release 30 million barrels of oil from the Strategic Petroleum Reserve in in order to push prices down .
However it is not expected to discuss output policy this week. OPEC agreed Sept. 10 to raise output 800,000 barrels per day from Oct. 1.
By Elio Ohep
© 2000 Mena Report (www.menareport.com)